Cassava Sciences Inc. [SAVA] Stock trading around $46.57 per share: What’s Next?

Cassava Sciences Inc. [NASDAQ: SAVA] stock went on a downward path that fall over -6.32% on Friday, amounting to a one-week price decrease of less than -19.39%. The company report on March 23, 2021 that Cassava Sciences Announces Full-year 2020 Financial Results and Business Highlights.

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Cassava Sciences, Inc. (Nasdaq: SAVA), a clinical-stage biotechnology company focused on Alzheimer’s disease, today announced financial results for the year ended December 31, 2020 and provided business updates. Unaudited cash and cash equivalents were approximately $280 million as of February 2021.

“In Q1 2021 we announced that our lead drug candidate, simufilam, improved cognition scores in 50 patients with Alzheimer’s disease who completed at least 6 months of open-label treatment,” said Remi Barbier, President & CEO. “In mid-2021, we look forward to announcing cognition scores in patients who’ll have completed at least 12 months of open-label treatment with simufilam. To our knowledge, no drug has stabilized, much less improved, cognition scores over 12 months in patients with Alzheimer’s disease. For this reason, I feel there is a sense of anticipation around the upcoming release of 12-month clinical data from our open-label study, as well as our plans to conduct a pivotal Phase 3 program with simufilam in the second half of 2021. With solid science, the right people in place, cash in the bank and a clinical roadmap that makes sense, I think Cassava Sciences is positioned to becoming a premier organization to serve patients with Alzheimer’s disease.”.

Over the last 12 months, SAVA stock rose by 1027.60%. The one-year Cassava Sciences Inc. stock forecast points to a potential upside of 40.1. The average equity rating for SAVA stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.98 billion, with 30.18 million shares outstanding and 26.14 million shares in the current float. Compared to the average trading volume of 7.30M shares, SAVA stock reached a trading volume of 1693572 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Cassava Sciences Inc. [SAVA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SAVA shares is $77.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SAVA stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

H.C. Wainwright have made an estimate for Cassava Sciences Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 16, 2021. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Overweight. The new note on the price target was released on October 23, 2020, representing the official price target for Cassava Sciences Inc. stock. Previously, the target price had yet another raise to $20, while H.C. Wainwright analysts kept a Buy rating on SAVA stock.

The Average True Range (ATR) for Cassava Sciences Inc. is set at 5.71 The Price to Book ratio for the last quarter was 15.27, with the Price to Cash per share for the same quarter was set at 2.20.

SAVA Stock Performance Analysis:

Cassava Sciences Inc. [SAVA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -19.39. With this latest performance, SAVA shares dropped by -8.47% in over the last four-week period, additionally plugging by 379.61% over the last 6 months – not to mention a rise of 1027.60% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SAVA stock in for the last two-week period is set at 46.27, with the RSI for the last a single of trading hit 39.82, and the three-weeks RSI is set at 50.06 for Cassava Sciences Inc. [SAVA]. The present Moving Average for the last 50 days of trading for this stock 43.96, while it was recorded at 50.66 for the last single week of trading, and 15.83 for the last 200 days.

Insight into Cassava Sciences Inc. Fundamentals:

Return on Total Capital for SAVA is now -19.24, given the latest momentum, and Return on Invested Capital for the company is -11.06. Return on Equity for this stock declined to -11.08, with Return on Assets sitting at -10.76. When it comes to the capital structure of this company, Cassava Sciences Inc. [SAVA] has a Total Debt to Total Equity ratio set at 0.32. Additionally, SAVA Total Debt to Total Capital is recorded at 0.32, with Total Debt to Total Assets ending up at 0.31. Long-Term Debt to Equity for the company is recorded at 0.25, with the Long-Term Debt to Total Capital now at 0.25.

Reflecting on the efficiency of the workforce at the company, Cassava Sciences Inc. [SAVA] managed to generate an average of -$575,818 per employee.Cassava Sciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 50.40 and a Current Ratio set at 50.40.

SAVA Stock EPS

With the latest financial reports released by the company, Cassava Sciences Inc. posted -0.08/share EPS, while the average EPS was predicted by analysts to be reported at -0.13/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 38.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SAVA.

Cassava Sciences Inc. [SAVA] Insider Position Details

There are presently around $468 million, or 26.10% of SAVA stock, in the hands of institutional investors. The top three institutional holders of SAVA stocks are: BLACKROCK INC. with ownership of 1,970,769, which is approximately 36.357% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 1,583,863 shares of the stock with an approximate value of $73.76 million in SAVA stocks shares; and CAAS CAPITAL MANAGEMENT LP, currently with $32.01 million in SAVA stock with ownership of nearly New of the company’s market capitalization.

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Positions in Cassava Sciences Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 54 institutional holders increased their position in Cassava Sciences Inc. [NASDAQ:SAVA] by around 4,508,525 shares. Additionally, 22 investors decreased positions by around 1,267,880 shares, while 9 investors held positions by with 4,279,046 shares. The mentioned changes placed institutional holdings at 10,055,451 shares, according to the latest SEC report filing. SAVA stock had 19 new institutional investments in for a total of 1,669,846 shares, while 9 institutional investors sold positions of 353,432 shares during the same period.

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